uniform residential appraisal report

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I want to know if appraisal of a unit in a condominium can be done using uniform residential appraisal report or some other report is required to be used.

colin · Posted: Mon Jan 01, 2007 11:53 am Post subject:

Hi Kspade,

Welcome to Mortgagefit forum.

Uniform Residential Appraisal Report can not be used for appraisal of units in a condominium.

This report is only used for appraisal of a one unit property, including a unit in a PUD (Planned Unit Development). It can also be used for appraisal of any one unit property having an accessory unit.

For appraisal of condominium Unit, Individual Condominium Unit Appraisal Report is to be used.

Let me know if you have any other questions.

Colin

helping_user · Posted: Tue Jan 02, 2007 2:39 am Post subject:

The form is not used to report the appraisal of manufactured home or a unit in a co-operative project. The appraisal is based on the interior and exterior of the subject property.

adonis · Posted: Tue Jan 02, 2007 2:56 am Post subject:

There's a sample of the Individual Condominium Unit Appraisal Report at "http://www.freddiemac.com/sell/forms/pdf/465.pdf" . Just have a look at it.

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Checkpoint of Appraisal report

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mikeshapiro · Posted: Fri May 04, 2007 10:03 pm Post subject:

Think he is asking if a condo can be appraised on the 1004 Full residential form. The long answer is yes it can, but you might run into issues with the underwriter accepting the appraisal.

Best answer is NO, if it's a single unit condo it should be done on the 1073 Condo form.

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